UPDATE 1-Indonesia Telkom sees scope for industry consolidation

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JAKARTA, Nov 2 (Reuters) - The head of Indonesia's largest telecoms company, PT Telekomunikasi Indonesia Tbk (TLKM.JK), said on Monday he saw room for industry consolidation given the large number of competing firms in the market.

"I think there's room for consolidation, because with 11 licences, the market is too crowded. So there must be a consolidation. We only need to figure out when and which companies," Telkom's president director, Rinaldi Firmansyah, told reporters.

Firmansyah added that Telkom was not actively looking to acquire another telecoms firm.

Telkom expects its profit growth to recover this year, and is seeking opportunities to expand in areas such as internet, broadband and wireless services. [ID:nJAK462215]

Last week, it posted a 24 percent rise in third-quarter net profit on the back of growth in its mobile and data services while revenue was up 14 percent at 16.4 trillion rupiah.

Separately, an official from Telkomsel, a subsidiary of Telkom which focuses on mobile phone services, said it expects single-digit growth in revenue this year.

"Our target by year-end is to reach high single digit revenue growth," Telkomsel's finance director, Triwahyusari, said.

She did not elaborate, but Telkomsel recorded a rise of nearly a third in its customer base in the first nine months this year to 79.77 million subscribers from a year ago.

Shares in Telkom, which has a market capitalisation of about $17.7 billion, ended down 1.8 percent when the market closed, against a 0.17 percent gain the main index .JKSE. (Reporting by Tyagita Silka; Writing by Sonya Angraini; Editing by Sara Webb)